After going through the Registry i am able to find out that the Configuration settings are stored in the Registry Keys !!
Now i need to figure a way out to include the exported registrry keys in an image..!
McAfee Installation designer will take the config from one pc and then install onto others using that configuration.
I believer there is also an option to create a MSP of the differences to apply.
Perhaps it's something to look into. It's available to customers with support in the downloads website. https://secure.nai.com/apps/downloads/my_products/login.asp?region=au&segment=en terprise
Have you considered using ePolicy Orchestrator (EPO)?
This is a management suite from McAfee which allows you to centrally manage all your machines, VirusScan policies and configuration, as well as installation and removal of VirusScan.
Depending on your entitlement, you may already be able to download it from the same place you downloaded VirusScan. If not, speak to your reseller/account manager and discuss your entitlement and requirements.